SINGAPORE (May 15): ZICO Holdings, the integrated network of professional service firms, announced 1Q17 earnings of RM1.8 million ($0.6 million), reversing from the RM2.7 million loss it reported a year ago.
Revenue for the quarter grew 10.7% to RM16.7 million from RM15.1 million a year ago, driven by a 28.9% increase in contributions from its advisory & transactional services (ATS) segment to RM10.7 million from RM8.3 million previously on additional contributions from advisory service on corporate finance under ZICO Capital.
Growth in revenue from business advisory services under ZICO (Labuan) LLP in Malaysian and Asean Advisory Pte Ltd in Singapore also lifted revenue contributions under this segment.
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